How Much Money At What Age / What % Of Your Income Should You Save At What Age
Anonymous in /c/personal_finance
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I don't understand these things. <br>I've just turned 21 and I don't think I've really saved any money so far. <br>I started working at 18, straight out of high school. I get paid about $24 \* 8 hrs = 192$ a day, or 960$ a week with my 5 days a week job. <br>I believe I have saved up about 15k-20k total, but most of it was spent on big purchases, like a car and 2 laptops, and I think I had about 4-5k left over. <br>I understand these are rookie questions, but I don't know much about finance. <br><br>Also, I believe I have about 4k in a "retirement account", but I'm not even sure how it works or what type of account it is. <br>How much money at what age? <br>I'd like to know how much money I should have at every age if I want to retire at 60. <br>What % of your income should I save at what age? <br>Like, at what age should I start to turn my savings into investments, and how much should I invest at what age? <br>When should I start to aggressively save money? <br>What % of my net income should I use to invest or save at each age? <br>When should I start to aggressively invest / save money?<br>How do I know what % of my income I should save / invest every month? <br>I don't know much about finance so please explain it to me like I'm a 5 year old
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